Spotlight

Indian equity markets are expected to trade with a cautious yet optimistic undertone as ongoing U.S.–Iran negotiations continue to support overall market sentiment, although uncertainty still remains elevated. While diplomatic engagement and signs of progress have emerged, no concrete breakthrough has been achieved so far. Markets remain hopeful that a positive resolution could improve global risk appetite, while any deadlock or escalation may trigger renewed volatility.
 
Crude oil prices are currently trading in the $97–98 per barrel range. The recent correction in crude oil prices is providing meaningful relief to India by easing pressure on inflation, import costs, and corporate margins, particularly for oil-sensitive sectors.
 
On the currency front, the Indian rupee has stabilized near the 96.1–96.2 zone against the U.S. dollar, largely supported by RBI intervention in the forex market. However, the currency remains vulnerable to any renewed spike in crude oil prices or persistent foreign institutional outflows.
 
Foreign Institutional Investors (FIIs) continue to remain net sellers in recent sessions, limiting stronger upside momentum in the broader market. Meanwhile, Domestic Institutional Investors (DIIs) continue to provide steady buying support, helping absorb foreign selling pressure and offering stability to the indices.
 
Overall, market sentiment remains cautiously optimistic. Easing crude oil prices and ongoing U.S.–Iran negotiations continue to act as key supportive factors, while persistent FII selling and rupee vulnerability are capping gains. Investors are likely to closely monitor further developments in U.S.–Iran talks and crude oil price movement for near-term market direction.

Technical view 

Nifty 50

Nifty 50 continues to trade with a cautiously positive undertone with range-bound structure amid improving market sentiment and gradual recovery from lower levels. Technically, the 23,600 zone remains an immediate support area, while the broader 23,400–23,300 region continues to act as a strong base support for the index. Holding above these levels will be crucial to sustain the ongoing recovery structure. On the upside, a sustained move above the 23,800 level could strengthen bullish momentum further and push the index toward the broader 23,900–24,000 resistance zone, where stronger selling pressure is likely to emerge. Overall, the near-term technical structure remains cautiously positive, while a decisive breakout above the psychological 24,000 mark will be essential to strengthen bullish momentum further.

Bank Nifty 

Bank Nifty continues to trade with a cautious to mildly weak undertone amid persistent resistance at higher levels. Technically, immediate support is placed near the 53,200–53,000 zone, while a decisive break below this band could drag the index toward the stronger support region around 52,800–52,600. On the upside, the 54,000–54,200 range remains an immediate resistance area, and a sustained breakout above this zone could extend the recovery toward the 54,400–54,600 levels. Overall, the near-term outlook remains cautious; however, the index will need to decisively reclaim higher resistance levels to strengthen further upside momentum.